For the past decade, Ixaris Systems Limited has been providing electronic payment solutions that any consumer can use, regardless of location or creditworthiness. In 2003, the London-based company launched EntroPay, Europe’s first virtual Visa card that could be used for online purchases wherever Visa is accepted.
Over the next two years, Ixaris continued to pursue financial technology development along with its fledgling payments business. By 2005, however, the success of the EntroPay service prompted the company’s leaders to focus solely on the Internet-based payments service, centering on its physical prepaid card, which removes the complications of credit, personal identity and credit card information.
Today, EntroPay is marketed through merchants and affiliates, and it is often offered as a co-branded product. Versions now include both virtual and plastic Visa and MasterCard products, giving access to millions of merchants across the globe, spanning a broad spectrum of industries and specialties. Because it is prepaid, no personal or financial details need be disclosed to online merchants, casinos or bookmakers.
What’s more, the user is in complete control of spending, able to send and receive money worldwide using his/her own bank account. To make instant, less restricted, secure online payments and withdrawals takes just a few clicks. EntroPay maintains the highest standards in fraud detection and account security, and Ixaris Systems Ltd. is certified by the U.K. Financial Services Authority (FSA).
An EntroPay account can be created online in just a few simple steps. First, personal information such as name, address and email is entered on the web site at entropay.com to establish a username and password. Second, funding details are provided, such as savings or checking account information for the source of funds to be used. Major credit and debit cards can be used, too.
Thereafter, the new EntroPay account is activated. The user then chooses the amount to load onto the prepaid card and confirms the specifics when prompted. Online statements can be viewed at any time to see the account balance remaining and the various transactions made.
Regarding fees, there is no charge for opening an EntroPay Account, creating an EntroPay Virtual Visa Card or spending when using an EntroPay card. There are no interest charges, either. When loading an EntroPay card from a personal credit or debit card, a fee of 4.95% applies, and when money is received from a merchant onto an EntroPay card, there is a fee of 1.95%.
Users should note that a foreign exchange surcharge of 2% applies when converting from one currency to another. Also, any time money is returned from EntroPay to a personal credit or debit card, a flat fee is assessed amounting to $6/£3/€4.50, depending on the currency in which the account is denominated.
As of the latest count, some 398 online gaming sites were accepting EntroPay for financial transactions, including both deposits and withdrawals in many cases. Some of the most noteworthy are Titan Poker, william hill Casino, paddy Power Sportsbook & Racebook, and ladbrokes Bingo, to name a few.
EntroPay can be used on these sites just as a standard Visa or MasterCard would be used. Customers are protected against fraud and being charged too much by the merchant, and the transaction history remains absolutely private.